Thursday, March 21, 2013

ReneSola signs RMB320 million loan agreement with China Development Bank

CHINA: ReneSola Ltd, a leading global manufacturer of solar photovoltaic modules and wafers, has signed a RMB320 million (approximately $50.9 million) 15-year loan agreement with China Development Bank.

"This funding will support our operations in China, a market in which we saw encouraging growth in the fourth quarter of last year," said Xianshou Li, ReneSola's CEO.

"Our ability to secure additional capital amid weak macro conditions and a tight credit environment speaks to our healthy overall financial position, as well as to the ability of our management team."